The covid-19 pandemic impact on the saudi arabia tourism sector: an accountancy approach

Seraj Bahrawi (), Mohammed Abulkhair () and Sami Mensi ()
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Seraj Bahrawi: Al-Baha University
Mohammed Abulkhair: Al-Baha University
Sami Mensi: Univ. of Manouba & ECSTRA Laboratory

No 1623, Working Papers from Economic Research Forum

Abstract: The outbreak of COVID-19, labeled as a black swan event, causes significant damage globally due to its fatality. The COVID-19 pandemic has expanded across the world by creating shocks in almost all the industries due to the restrictions, curfews, stay-home and work-from-home policies, and quarantines. As a result of the health and economic crisis with the COVID-19 pandemic, the tourism sector got severely affected. The UNWTO has estimated a loss of approximately 1.1 billion international tourist arrivals, with a loss of US$ 910 to 1.1 trillion export revenues and 100-120 million jobs due to the wider spread of the novel coronavirus. Therefore, this paper aims to determine the impact of the COVID-19 outbreak on the tourism industry in the world and in the Kingdom of Saudi Arabia. This article adopts the financial data of listed companies in Saudi Arabia and uses the synthetic index compilation method to compile an accounting index that captures the period before and during the Covid-19 outbreak and measures the impact of the Covid-19 on the tourism sector. From this article, we recommend the appropriate policies to re-launch some tourism activities within the after Covid-19 period. It will be crucial to restore all types of travel, and domestic and international flights, improve direct and indirect employment and the recovery of many related business as travel agencies, hotels, and airline companies, which allow for economic and social benefits

Pages: 19
Date: 2022-12-20, Revised 2022-12-20
New Economics Papers: this item is included in nep-ara and nep-tur
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Published by The Economic Research Forum (ERF)

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